6. "You might as well say that the unemployment rate would be zero if everyone just quit looking for work." Explain what the author means by this.

Q: why do technological improvements only increase population and not the long-run standard of living?

A: In an economy, technological improvement refers to the situation when their is an enhancement in the...

Q: In Norway, one worker can produce either 8 pounds of smoked fish or 8 barrels of oil. In Saudi Arabi...

A: Given:- Production in Norway=8 pound of fish or 8 barrels of oil Production in Saudi Arabia=5 pound ...

Q: Three problems that make the consumer price index an imperfect measure of the cost of living are

A: Introduction: The consumer price index is not a perfect measure of the cost of living. 

Q: Assuming normally shaped demand and supply curves, which of the following events would possibly resu...

A: Equilibrium in the market of goods and services occurs at the intersection of demand and supply curv...

Q: Refer to the information provided in Figure below to answer the question that follow. AS 110 AD 600 ...

A: Oil embargo depicts a situation where oil supply is decreasing. In economy most of the production is...

Q: Educational equality exists when schooling produces the same __________ for lower-class children and...

A: Education equality refers to the similar level of opportunities and knowledge for all the people irr...

Q: Assume that the demand for food is relatively inelastic and the demand for jewelry is relatively ela...

A: Answer: If the same tax is imposed on the goods having elastic and inelastic demand then the good wi...

Q: For each situation, identify if it is included in GDP, then identify the category C, I, G, or X-M $2...

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question spec...

Q: 1 Draw the disadvantages of each policy choice? Policy 1: Exchange stability combined with capital m...

A: There is monetary trilemma involved when it comes to international trade that is we cannot have all ...

Q: Surplus refers to the amount of Select one: O a. All of the options. O b. amount of utilization. C. ...

A: Surplus is usually used in economic context in areas like consumer surplus, surplus wage, producer s...

Q: The Slutsky matrix below belongs to a consumer with a regular utility function of three goods, with ...

A: As we know that Slutsky matrix is symmetric matrix. Therefore, By solving the metrics we can find ou...

Q: On a [0.1] linear segment, two firms A and B selling the same good are located symmetrically at loca...

A: Consumer Utility = 10 - 4d - p  Firm A is (L) = 0.2   (Given ) Firm B is at  (1-L)    = 0.8  Let us ...

Q: This person earns $1000 of income today and $2000 income next year. Point C represents his consumpti...

A: To find : Consumption of next year

Q: Northern Bank: Balance Sheet Assets Liabilities $420 $7,580 $8.000 Deposits Capital $7,000 $1,000 Re...

A: The given table shows the balance sheet of the Northern Bank and banks decides to maintain the reser...

Q: 7. Find the utility for the following time-discounted situations ( U = 100 + E(100 - 50)0.95' %3D a.

A:

Q: The table below shows labour force information for a hypothetical economy, Selkirk. Answer the follo...

A: Q1. Solution(a) Blank 1- 2.90 million Blank 2- 4.40 million. Blank 3- 65.90% Blank 4- 5.17% Blank 5-...

Q: For each of the regions, use the midpoint method to identify whether the supply of this good is elas...

A: As per the figure in question, at point Y: price is $135 per unit. Let this be represented as P0=$13...

Q: Question 26, P1-4 (similar to) > Part 1 of 5 Marginal cost-benefit analysis and the goal of the firm...

A: Cost-benefit analysis is the procedure for estimating all prices concerned and possible advantages t...

Q: Explain the concept of the rules of origin in regional and international trade

A: Rules of origin are the rules expected to decide the public source of an item. Their significance is...

Q: If demand for the peach industry is given by P=100-.04Q and supply is given by P=.01Q.Assume the mar...

A:

Q: How is a downward-sloping demand curve related to total revenue and marginal revenue?

A: The demand for a commodity is always related to the price of a commodity because when the price of c...

Q: What is monopoly and it's characteristics?

A: The markets are the place where the buyers and the sellers tend to meet and interact with each other...

Q: The opportunity costs could be computed as: Aircraft Corn =1/500=0.002 air Beta =500/1=500 corn craf...

A:  1. Beta is specialized in Corn production because its opportunity cost is lower than Gamma in the c...

Q: What's the current yield of a 3.8 percent coupon corporate bond quoted at a price of 102.08

A: Current Yield The yearly income (interest or dividends) from an investment is divided by the current...

Q: what is the major source of human capital formation in an country explain ????

A: Human Capital Formation is a process of developing abilities and skills among population of the nati...

Q: Considering that the Philippine peso merely fiat money, and considering that we are affected by the ...

A: Introduction Philippines economy has considered one of the fastest growing economy of Asia. It has a...

Q: long-run equilibrium by shifting the appropriate curve or curves and/or placing the point for long-r...

A: In macroeconomics, the money supply alludes to the complete volume of cash held by the general popul...

Q: 1. Suppose two nations, Beta and Gamma, each make aircraft and corn. The main resource in each natio...

A: Given: Goods: Aircraft Corn Note: Due to multiple subparts being posted, the first three subparts ha...

Q: True or false? In a 2-person economy, if the endowment is on the contract curve, there exists no exc...

A: To find : Whether the statement is true or false 

Q: 3. Consider a home energy storage (battery) system that can store up to 2 units of energy. At every ...

A: a)

Q: Complete each statement below about the demand and supply of bicycles using the dropdown list. In ea...

A: 1) When "there was an increase in the cost of materials in bicycle production then the change in qua...

Q: Suppose that the following Cobb-Douglas utility function is given U(X,Y) = X³y/2, Which of the follo...

A: Marginal rate of substitution refers to the ratio of marginal utility of two goods.

Q: Using the supply and demand functions below, derive the demand and supply curves if Y = $55,000 and ...

A: We have: The demand function for coffee Q = 8.5-p+0.01Y Supply function for Coffee Q = 9.6+0.5p-0.2p...

Q: 14. Country A has a GDP of $400,000, and country B has a GDP of $100,000. The standard of living in ...

A: GDP is the value of all final goods and services in the economy in a given year produced within the ...

Q: A binomial probability experiment is conducted with the given parameters. Compute the probability of...

A: a frequency distribution of the number of successful results that can be achieved in a specified num...

Q: Consider the following open economy SI model set up Y = 18000 C = 300 + 0.8(Y − 2500) I = 3500 − 400...

A: We have given  Y= 18000 C=300+0.8(Y-2500)             .... (1) I=3500-400r                         ....

Q: 4. A conceptual difference between a firm operating in a perfectly competitive market and a firm ope...

A: Perfectly competitive market is characterised by the many buyers and sellers and products are identi...

Q: inch thick insulation 50,000 20,000 inch thick insulation 65,000 25,000 inch thicl- insulation 07.00...

A: Return on investment is a basic proportion that separates the net benefit from a speculation by its ...

Q: The labour market in an economy is characterised by the following equations: W = 0.7-0.9u ре Wage se...

A: Wage determination in the labour market is characterized by the WS equation. There is   a negative l...

Q: Suppose that many varieties of lettuce have been damaged in a particular season by disease. Only gre...

A: According to the question, percentage change in price of green leaf lettuce is 50% and percentage ch...

Q: Suppose that Helena's utility over goods x and y is given by U (x, y) = 2/# + /ỹ X. Solve Helena's u...

A: Answer: Given, Utility function: Ux,y=2x+y Let the price of goo x be Px and the price of good y be P...

Q: A man deposits P 1,000 at the end of each month for 3 years at a nominal rate of 12% compounded mont...

A: Given nominal interest rate = 12 % compounded monthly Effective rate = (1 + 12%/12)^1*12 – 1 = 12.68...

Q: 4. Some economists believe that the CPI overstates inflation compared to the GDP deflator due to: a....

A: The Consumer Price Index (CPI) measures the average change in prices over time that consumers pay fo...

Q: Question 20, Warm-Up 1-1 (static) Part 1 of 3 Ann and Jack have been partners for several years. The...

A: The above question is based on the forms of business enterprise in which the above situation seems t...

Q: - All inputs can be varied in O Short run O Long run Both neriods

A: To find : How can be inputs varied. 

Q: Based on the following data: Taxable income ($) Total tax ($) 1500 5 2500 110 3000 200 4500 400 5000...

A: Taxes are compulsory payment which are made by individuals or institutions to the government without...

Q: Suppose that books are a normal good. If consumers get richer what will happen to the price and quan...

A: Normal goods have positive income elasticity of demand, so when the income of consumer rises, the de...

Q: 1 2 Quantity of Books Suppose the solid line in the graph above illustrates Michael's budget line. W...

A: (Since you have asked many questions, we will solve the first one for you. If you want any specific ...

Q: Answer the folowing questions in relation rade a. Determine the opportunity costs for cach nation b....

A: Given  The production possibility curve of both nations is a straight line which means that the oppo...

Q: 7 A local tavern in a perfectly competitive market was in a long-run equilibrium. Then, a scientific...

A: Answer -